The directions are for entering the home office expenses if the K-1 is for self-employment, but income on a Schedule K-1 (Form 1065) is only income from self-employment if it's shown in box 14 with code A. If this is not the case, please contact the preparer of the Schedule K-1 for an explanation of the lack of a box 14 code A entry. The amount in box 14 with code A (along with box 14 code B and C entries, if needed) is also used to calculate self-employment taxes.
Income on Schedule K-1 (Form 1120S) or Schedule K-1 (Form 1041) is not income from self employment.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
